Professional Services

Professional service companies are eyeing a bigger share of profits. But for that to happen, they must fashion portfolios capable of braving volatile markets.

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Challenges faced by the procurement team

Supply-side blindspots

Professional services suffer from insufficient visibility of supply chain activities, a key reason for cost escalations.

  • Get the real-time insights you need to prepare highly accurate estimates and identify potential per-element costs for your project to ensure it stays within budget
  • Recognize potential risks, assign a value to the financial impact of each risk type, and develop plans to preempt and eliminate such threats
  • Track project progress in real time with clean at-a-glance dashboard views of multiple project metrics to stem the menace of cost overruns
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Opaque billing systems

High revenue leakage, resulting from legacy data capture processes, is leaving the C-suite uneasy.

  • Modernize your time-tracking with a performance dashboard capable of visualizing key KPIs – e.g., utilization, yearly revenue per billable resource, profitability at firm/project levels
  • Precisely clock the time your resources spend on core income-generating activities (versus routine administrative tasks) to ramp up productivity levels in the near-term
  • Leverage AI/ML algorithms to more precisely work out the talent pool size needed on a project to ensure optimal allocation of scarce resources
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Suboptimal portfolio strategies

Tough call: Devising portfolio strategies to ride out market volatility

  • Weigh up every single service offering in the portfolio to ensure the most favorable allocation of people, time, and money to improve profitability and rankings
  • Embrace the inorganic route to expand into promising markets and regions with high market-growth potential in the mid-to-long term while tallying up costs and risks
  • Discover ways to curb spends on lackluster offerings with low or negative returns and which constitute an unjustified drag on resources
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Industries

Professional Services

Professional Services

Professional Services

A deep scan of portfolios will reveal the market potential of each constituent service, based on which firms can optimally earmark resources.

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A Californian professional services firm doubles profits and jumps five spots in global rankings – on the back of our portfolio formulation. You shouldn't miss the growth train either!

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Featured Case Study

Unlocking the Benefits of Strategic Sourcing: How a Cost-Effective Process Transforms Companies

Unlocking the Benefits of Strategic Sourcing: How a Cost-Effective Process Transforms Companies

January 23, 2025

Many companies still view purchasing as a simple transactional process aimed solely at fulfilling financial needs while minimizing costs. This conventional approach often leads procurement teams to pit suppliers against one another, which undermines the development of effective procurement strategies and damages supplier relationships. Consequently, organizations struggle to implement strategic...

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Dig Deeper with "SE Insights" Procurement Reports

Gathering data on your supplier’s capability to deliver high-quality products is just not enough. More open communication will ensure suppliers not only deliver with quality but also ahead of schedule.

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Industry Resources

Unlocking the Benefits of Strategic Sourcing: How a Cost-Effective Process Transforms Companies

Unlocking the Benefits of Strategic Sourcing: How a Cost-Effective Process Transforms Companies

Many companies still view purchasing as a simple transactional process aimed solely at fulfilling financial needs while minimizing costs. This conventional approach often leads procurement teams to pit suppliers against...

Read More
Creating a Supplier Performance Scorecard: Best Practices to Enhance Efficiency and Results

Creating a Supplier Performance Scorecard: Best Practices to Enhance Efficiency and Results

Large businesses and small businesses alike have endeavored to gauge supplier performance through various means, whether as part of their quality management program, responding to customer requests, or as a...

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Effective Purchasing Strategy: A Key to Driving Business Growth

Effective Purchasing Strategy: A Key to Driving Business Growth

Companies can significantly enhance their competitive edge by adopting effective purchasing strategies. Such strategies enable informed decision-making, leading to reduced operational costs and improved supplier relationships. By fostering collaboration with...

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SpendEdge Helps a Plumbing Supply Store with Supply Chain Management

SpendEdge Helps a Plumbing Supply Store with Supply Chain Management

Author: Vice President, Data Analytics, SpendEdge. Case Study Overview ClientIndustrySolutionWholesale Plumbing Store in the USWholesale, Plumbing Hardware, Tools, Sanitaryware, Fixtures, Pipes, Water Tanks, and Plumbing LogisticsProvided Supply Chain Management Insights to...

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Benefits of Performing Competitive Benchmarking Analysis

Benefits of Performing Competitive Benchmarking Analysis

Key Takeaways Competitive benchmarking helps outperform competitors by identifying gaps in performance and fostering strategic growth. Regular performance benchmarking enhances product quality, reduces costs, and boosts profit margins. Strategic and process benchmarking enables...

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Why Developing a Risk Management Strategy is Crucial for Optimizing the Risk Profile

Why Developing a Risk Management Strategy is Crucial for Optimizing the Risk Profile

Key takeaways Structured Approach: Implementing a structured risk management strategy is crucial for businesses to identify, assess, mitigate, and monitor various risk exposures and events. Enhanced Protection: Utilizing tools such as risk...

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Benchmarking Integrated Facilities Management – Best Practices

Benchmarking Integrated Facilities Management – Best Practices

Redefining the integrated facilities management best practices’. Progressive buyers have started opting for an integrator model for sourcing IFM services. This approach ensures streamlined delivery of business processes both by...

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Insights on How to Embrace Top Trends for Procurement Success

Insights on How to Embrace Top Trends for Procurement Success

What are Today's Top Procurement Trends and Best Strategies? Procurement is a challenging and complex process that involves various steps, multiple parties, and significantly the latest procurement trends impact the company's...

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Make Informed Procurement Decisions with SE Insights

Mismatches between your needs and what your supplier delivers could weaken business performance. By collaborating intensely with suppliers, you can ensure your penchant for KPIs grows on them as well.

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[Webinar]: Managing Supply Chain Disruptions: Practical Approaches to Building Resilience Without Overbuilding Inventory
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